June 22, 2020 Read More →

State government in India’s Uttar Pradesh backs plans for 2GW ‘ultra-mega’ renewable energy park

PV Magazine:

The state government of Uttar Pradesh has paved the way for a 2 GW ‘ultra-mega’ renewable energy park.

A state cabinet meeting chaired by chief minister Yogi Adityanath approved a memorandum of understanding concerning the establishment of a joint venture (JV) by Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) and jointly state and federal government-owned hydropower company THDC India to establish the project.

The project JV, which will be 74% owned by THDC India and 26% by UPNEDA, will have Rs50 crore of authorized share capital.

The renewables park will initially require a Rs2,400 crore to fund 600 MW of solar capacity at the site, costed at Rs4 crore per megawatt.

With land allotted and a connection in place to evacuate power to the nearest substation, the state government said developers bidding for the tendered solar capacity would be able to quote competitive tariffs for the solar electricity generated.

[Uma Gupta]

More: Uttar Pradesh set for 2 GW ‘ultra-mega’ renewable energy park

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